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10 cards from this deck
System using demand & supply to guide economic decisions
Free market system
What, how, and who to produce for
Profit motive (desire for highest profits)
Private individuals & businesses, not government
Minimal - basic services only (defence, law)
Efficient - competition forces wise resource use
Wide range of products to choose from
Uneven income/wealth distribution (inequality)
When market doesn't work efficiently; needs intervention
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